Huobi Token (HT), a cryptocurrency trading stock with a total valuation of $868 million, saw its price surge following the announcement by T...

Huobi token crosses the $7 mark



Huobi Token (HT), a cryptocurrency trading stock with a total valuation of $868 million, saw its price surge following the announcement by Tron blockchain founder Justin Sun.

The asset rallied 13% on Nov. 29 to peak at $7.22 before entering a correction phase that brought it back into the $6 region, according to Coingecko.

At the time of writing, tracking by the online crypto information provider shows the token changing hands at $6.63 and is down 2.9% over the past 24 hours.

Still, the altcoin is up 20% over the past seven days and has surged 44.3% over the past two weeks.

The temporary spike in the Huobi token may have been caused by news of plans to launch a new crypto project.

Sun Teases Dominica Currency (DMC) Debut

Via his Twitter account, Sun, who was recently appointed by Huobi to join its new global advisory board, announced the launch of the Dominican Coin.

The trading platform confirmed the development with an official statement, saying that the upcoming digital asset will be called Dominica Currency (DMC) and will be available to the public through Huobi Prime — the company’s only platform for token offerings.

No specific timeline was mentioned for when the new cryptocurrency would be available, but the bitcoin exchange said it would airdrop it to its users.

Along these lines, Huobi also stated that its users can use their Dominica digital ID (DID) to confirm their identity in preparation for the airdrop.

This is not the first time the Caribbean island nation of Dominica has stepped up its cryptocurrency adoption plans, as it has made TRON and its associated native token legal tender within its jurisdiction.

As expected from Island Nation, interest in upcoming projects is growing

While there is no definite timeline for the anticipated Dominica currency airdrop, it is undeniably exciting as it has useful features that many cryptocurrencies currently sorely lack.

In turn, Huobi Tokens are expected to play a key role in DMC’s well-performing and overall success, which is crucial in giving holders greater opportunities to earn higher returns on their investments.

HT has developed from this and achieved a leap in value. Moreover, its technical indicators point to further gains, although market volatility could erase all of its recent gains.